Tune into the latest edition of FoodBev’s weekly podcast, where we take an in-depth look at some of the biggest stories from the food and beverage industry over the last week.
This week’s podcast features several high-profile acquisitions, significant investments in protein snack brands, executive appointments, sustainable packaging commitments and more.
The top story saw Hong Kong-based property investment firm CK Asset Holdings acquire UK pub and beer company Greene King for £2.7 billion. Greene King operates nearly 3,000 pubs, restaurants and hotels across the UK, and owns beer brands such as Abbot Ale and Old Speckled Hen.
Elsewhere, The Simply Good Foods Company secured a deal to buy protein snack maker Quest Nutrition for $1 billion. Simply Good, the owner of Atkins-branded food products, believes the transaction will achieve $20 million in cost synergies over three years. Also in the protein snack segment, The Hershey Company made a minority investment in Irish protein bar manufacturer Fulfil Nutrition.
In the beverage sector, Asahi agreed to acquire Brisbane-based craft brewer Green Beacon Brewing as the Japanese company continues its expansion in Australia. And spring water brand Icelandic Glacial raised $66 million, including $35 million in funding from BlackRock’s US private credit team.
Moving to manufacturing, Ajinomoto is to invest around $84.9 million to relocate its Malaysian subsidiary and strengthen the development of halal products. The Japanese ingredients company also secured a deal to acquire a 50.1% stake in More Than Gourmet, a US-based producer of classic French sauces and stocks.
Molson Coors announced plans to make 100% of its packaging reusable, recyclable, compostable or biodegradable by 2025. The brewer is seeking to achieve at least 30% recycled content in its PET bottles, plastic film wrap and plastic rings. Meanwhile, research from the British Beer & Pub Association revealed that CO2 emissions from the UK’s brewing industry have fallen by 42% in the last decade.
All that and more in this week’s podcast.
Presented and edited by: Martin White and Bryony Andrews
© FoodBev Media Ltd 2019